I think this is the beginnings of an economy based on perpetual growth and fossil fuel energy running headlong into geological energy constraints. Basically I see an undulatory downward path for the rest of my life. From here out, I think any rallies in our economic condition are going to be met with spiking commodity prices that knock us right back down.
Posted: Sun Aug 31, 2008 4:06 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
Ludi wrote:
Quinny wrote:
You're having a giraffe aren't you!
More of a wombat, I'd say. Possibly a coatimundi.
"'Aving a giraffe" is esturine English (the dialects of the Thames estury) for having a laugh, it rhyms. Much in the same way "aving a butchers" means taking a look.... look -> butchers hook. Some of this dialect has penetrated quite deep into general english. For example calling a female a 'tart', comes originaly from the esturine for sweet heart -> jam tart.
Posted: Wed Sep 03, 2008 9:42 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
Spoke to a mortgage broker today who is surviving on rewraps, he's written no real business (ie for property transaction or even home improvements) for over 6 months! _________________ Live, Love, Learn, Leave Legacy.....oh and have a Laugh while you're doing it!
Joined: Jun 13, 2007 Posts: 3862 Location: Minniesotuh
Posted: Thu Sep 04, 2008 12:17 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
Just turned on the tv to CNBC. What did I miss? The S&P, NAS, and the Dow are down-the Dow is down 330! _________________ "RRrrruuuunnnn!!!" ~Apocalypto
Posted: Thu Sep 04, 2008 1:03 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
dorlomin wrote:
Ferretlover wrote:
Just turned on the tv to CNBC. What did I miss? The S&P, NAS, and the Dow are down-the Dow is down 330!
Bad job data and what looks like a collapse of condidence.
Don't believe the media hype. This morning the news was that the market was falling on a rise in oil prices. Later, oil dropped and the same article was changed to the market dropping on employment data. If the market had gone up, the talking heads would have said that falling employment and income was seen as a good thing. Or maybe they would have pointed at the 3% increase in sales at wal-mart.
A statistical fact of relevance is that histocially October has the worst single day crashes (hence everyone knows about October), September is historically the single worst month for the stock market overall.
That said, I think the reprieve for the gold, oil, and market bulls is over. I mentioned that reprieve here: link
All the markets are plummeting below their previous lows. I suspect the next couple of weeks are going to really hammer all the markets. With the weakness in financial institutions of all kinds, get ready for an escalation in the fallout as some are bound to get into real trouble as these markets tank. _________________ Welcome to the Kondratieff Winter
Posted: Thu Sep 04, 2008 1:11 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
Cockney rhyming slang - The full list.
Don't know why but alot used also in Lancashire (without the cockney accent though !!)
Abergavenny ............................. Penny
Ace Of Spades ........................... AIDS
Acker Bilk .............................. Milk
Adam And Eve ............................ Believe
Adam And The Ants ....................... Pants
Alan Minter ............................. Splinter
Alan Whickers ........................... Knickers
Alderman's Nail ......................... Tail
All Afloat .............................. Coat
All Time Loser .......................... Boozer (Heavy Drinker)
Allan Border ............................ Out Of Order
Alligator ............................... Later
Almond Rock ............................. Frock
Almond Rocks ............................ Socks
Andy Cain ............................... Rain
Andy McNab .............................. Cab (Taxi)
Anna Maria .............................. Fire
A thru Zeee !!
Yank .................................... Ham Shank
Yank .................................... Septic Tank
Yank .................................... Sherman Tank
Yank .................................... Wooden Plank
Posted: Thu Sep 04, 2008 1:17 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
shady28 wrote:
All the markets are plummeting below their previous lows. I suspect the next couple of weeks are going to really hammer all the markets . With the weakness in financial institutions of all kinds, get ready for an escalation in the fallout as some are bound to get into real trouble as these markets tank.
You think the govt is going to stand idly by and let the markets tank? Think again. They're going to encourage inflation as much as they can. Part of the dynamic behind the situation for the last couple of weeks, is due to an organized effort to talk the price of commodities down. That's all over after the election. Interest rates will go to zero if they have to, to fight "deflation" and make work projects, fast tracked, through private public partnerships with large corporations are going to get a huge kick start, come January 2009.
Posted: Thu Sep 04, 2008 1:21 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
GASMON wrote:
Any yank cities got there own lingo ??.
It's regional. But the internet and the new teen/twenty-somethings who grew up with it have the most distinct dialect. All found here: www.urbandictionary.com
Posted: Thu Sep 04, 2008 2:43 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
I always thought a ham shank was the same as a Jodrell!!
GASMON wrote:
Cockney rhyming slang - The full list.
Don't know why but alot used also in Lancashire (without the cockney accent though !!)
Abergavenny ............................. Penny
Ace Of Spades ........................... AIDS
Acker Bilk .............................. Milk
Adam And Eve ............................ Believe
Adam And The Ants ....................... Pants
Alan Minter ............................. Splinter
Alan Whickers ........................... Knickers
Alderman's Nail ......................... Tail
All Afloat .............................. Coat
All Time Loser .......................... Boozer (Heavy Drinker)
Allan Border ............................ Out Of Order
Alligator ............................... Later
Almond Rock ............................. Frock
Almond Rocks ............................ Socks
Andy Cain ............................... Rain
Andy McNab .............................. Cab (Taxi)
Anna Maria .............................. Fire
A thru Zeee !!
Yank .................................... Ham Shank
Yank .................................... Septic Tank
Yank .................................... Sherman Tank
Yank .................................... Wooden Plank
Posted: Thu Sep 04, 2008 3:22 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
threadbear wrote:
You think the govt is going to stand idly by and let the markets tank? Think again. They're going to encourage inflation as much as they can. Part of the dynamic behind the situation for the last couple of weeks, is due to an organized effort to talk the price of commodities down. That's all over after the election. Interest rates will go to zero if they have to, to fight "deflation" and make work projects, fast tracked, through private public partnerships with large corporations are going to get a huge kick start, come January 2009.
The government has been powerless to stop the housing implosion.
The government has been powerless to stop the forces that have, after 8 years, resulted in a net negative growth in the US stock markets. The only thing the Fed could do after the 2000-2001 slump in the market - pump the debt markets - has been done and the result is obvious.
I see nothing to change that. In fact, the Fed has effectively used all their bullets. They will likely focus on certain parts of the financial system to provide a stable core as the shell around it falls down. Either way, money is becoming scarce even as people say that the Fed will save us. They will not.
You are correct in that fed funds rates may go to zero. If you had a million dollars, who would you lend to? That question is the one on the minds of bankers. That is also the only question that matters in terms of re-inflating debt markets. The answer is staring everyone in the face - big money is pulling in and raising cash to weather the storm.
As incomes fall and revenue dries up, I think you'll find that just as public works project kick off (and they will, simply to appease the mob) there will be cuts in other areas in order to minimize the deficit. Or, even worse, they will simply raise taxes - a move which will suck even more money out of the economy. Most likely they will do all 3 things, and bring the house down even faster.
People who are counting on the Fed printing money and dropping it from helicopters are badly mistaken. At some point they are going to give up and let the economic cycle play out, as they always have done in the past. There will be platitudes and talk about action, but that again is simply to appease the mob. _________________ Welcome to the Kondratieff Winter
Posted: Thu Sep 04, 2008 5:05 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
I have read that the Chinese are dumping Fanny and Freddie bonds in favour of treasuries. What impact this will have is slightly beyond me but it may explain the dollars moves over the past week or so.
I am only a spectator in this, I dont even know the rules of the game.
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